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It is worth re-reading the Progressive Research Report on the ECHO website, particularly Point 3. OK, this was from January 2018 and things have somewhat changed with testing in progress. Wonder if ECHO will revise this Report in the near future?
Also, I would like to see ECHO pay off some debt along the way to make the company more attractive to a potential buyer for their LE in the future.
Plenty of development and 'growth' as Fiona mentioned, so very happy to be invested here.
GLA
Well Eggie, on 1 July you posted
'Boliva they are waiting to see how shell and another company get on with drilling. Surprised they will even bother until argentina drills are completed.... high cost and risk if they are targeting LE.... this feels like production company'
Make your mind up...
Great progress and delighted with the campaign so far.
As I have mentioned before, I have my reservations about Bolivia. No doubt ECHO have spent some money and not inconsiderable time looking at the Bolivia prospects. Frankly, I would rather see ECHO give Bolivia the elbow and concentrate on Argentina, reap their rewards there and continue with their asset building and income stream.
Revenue from the current oil production will cover expenses only (salaries etc) so I am not expecting a spike in the SP.
If ECHO comes good in Argentina billy big style and then still wants to go with Bolivia I will take my profit at run at some point.
Best wishes to all
Thanks Luckyman2 for the link. Fascinating.
If you go to the end of the interview (maybe I got this mis-heard) but Fiona mentioned something about another possible 18 wells they are looking to work-over in Argentina, interspersed with the current testing progs?
FM confirmed ECHO is fully funded, shooting seismic on TA and looking at November for ops?
Brilliant.
I guess it depends on when ECHO have/maybe sold their 50% of their share of oil, or perhaps they are keeping it back in reserve for the best POO? What price is POO in Argentina (light/crude) and the $ratio?
Interesting times but yes, any revenue is groovy for ECHO and underpins the SP.
When the SP was in the 10-12p range some were debating the fluctuating price. Now we are in the 17-18p range the discussion continues in the same vein. When we get to the 25-35p range (or more), ad infinitum...
It matters not except for Day Traders maybe.
Not being critical just subjective. Hope everyone is groovy and enjoying the lovely weather.
GLA
schlemiel
Yes, I think there is something here behind the scenes. No doubt everyone has read the RNS but to re-iterate from Fiona:
"I'm delighted to welcome Martin to the Company and look forward to working together as we enter the next phase of growth. Martin brings a wealth of energy transaction experience and contacts throughout the sector through his work with listed companies, private equity, majors and NOCs over the course of his career with Rothschild.'
Some 'key words' in this statement? Make of that what you will. He do does not start until 1 August and good luck to Will Holland.
GLA
Us 'genuine' holders cannot influence the SP.
POO is important because ECHO has producing oil assets, which is good for income.
I have plenty of OO shares from the formation of ECHO, from the start, and have topped-up on dips along the way. So do not presume anything about other posters on this BB. I am sure there are many other 'LTH' holders that are sitting back and do not need to post here.
'US crude prices have jumped nearly 3% as plunging US crude stockpiles compounded supply concerns due to uncertainty over Libyan exports, a production disruption in Canada, and US demands that importers stop buying Iranian crude from November.
US crude stocks fell by nearly 10 million barrels last week, the most since September 2016, while petrol and distillate inventories rose less than expected, the Energy Information Administration said.
Brent crude futures rose more than 2% to $77.90 per barrel, and US crude futures rose 2.9% to $72.59.'
From BBC news today.
KiasOr
You have raised an interesting point. JP created ECHO to follow the SOU design, to acquire resources, prove them up and move to an LE. ECHO appear to be exceeding expectations resulting from their own strategy and an improved business model (income). ECHO have more drills to come in Argentina, so my thoughts are, why bother with Bolivia?
Bolivia is going to be expensive and chew up a great deal of cash, a real punt. Why not stay in Argentina? Infrastructure is there and all positive.
GLA
Certain Directors and members of the Company's senior management team have indicated that, following publication of this Announcement, they intend to participate in the Fundraising by subscribing directly with the Company for new Ordinary Shares at the Placing Price (the "Management Subscription"). No doubt there will be further RNS on their participation? And yes, I am holding shares in MATD before anyone asks. GLA
The risk versus reward is too much for me. After 3 years of 'Dreams in the desert' it is more like 'Nightmare at the oasis' Sorry to say that I have sold my holding in SOU, with a small loss. For the SOU 'remainers' I wish you all well.